The Central Bank of Nigeria (CBN) has introduced a new regulatory framework for Bureau De Change (BDC) operations, aimed at stabilizing the foreign exchange market and curbing illicit financial flows. The guidelines introduce new licensing tiers, stricter...
Access to credit remains a major hurdle for MSMEs in Nigeria, often due to strict collateral requirements. Credit Guarantee Companies (CGCs) help bridge this gap by providing third-party loan guarantees. But what legal framework governs CGCs? This article...
Since the enactment of Nigeria’s Data Protection Act in June 2023, the Nigeria Data Protection Commission has introduced key compliance directives, audit requirements, and classification guidelines for Data Controllers and Processors. Recent judicial...
Nigeria’s construction and real estate industries contributed ₦11.2 trillion to the GDP in Q1 2024, yet face liquidity challenges from inflation, exchange rate volatility, and project delays. This article explores the factors driving insolvency in these...
Could the creation of the Tax Ombud under the Joint Revenue Board Bill, 2024, be a game-changer for tax dispute resolution in Nigeria? While the Ombud promises fairness and accountability, limitations on its authority raise concerns. Is this a meaningful...
On May 26, 2023, former president, Muhammadu Buhari signed into law the Arbitration and Mediation Act, 2023 (the Act, or AMA 2023), repealing Nigeria’s 35-year-old Arbitration and Conciliation Act Chapter A.18, Laws of the Federation of Nigeria, 2004...
The Lagos State Internal Revenue Service (LIRS) recently launched the Eco Fiscal System (EFS), a software integrated into Point of Sale (POS) machines to streamline tax collection in the hospitality industry. While this system promises greater transparency...
On January 29, 2024, COMESA fined the Confederation of African Football (CAF) and BEIN Media Group LLC $300,000 for anti-competitive practices related to exclusive broadcasting rights. This landmark sanction highlighted significant competition restrictions...
In our previous article, we examined Administration as a new insolvency option under Nigerian corporate law, using Moorhouse Company Limited\'s case as an example. Key points included appointing an Administrator, mandatory statutory procedures, and the...
Under previous Nigerian law, only public companies, statutory bodies, and banks could publicly offer or trade securities, while private companies were restricted. The 2023 Business Facilitation Act amended section 67(1) of the Investments and Securities...